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The US Central Bank maintains stable interest rates



The US Central Bank maintains stable interest rates

Powell says bank will be patient with interest (Getty)
The US Central Bank maintains stable interest rates

January 30th
2019

Federal reserves kept interest rates unchanged at the end of Wednesday's meeting, but announced that they would slow down further borrowing costs this year, pointing to growing uncertainty about the outlook for the economy.
"In the light of economic and financial developments and the mitigation of inflationary pressures, the board will be patient" in deciding on increasing future interest rates, "the Federal Reserve's Monetary Policy Statement said after a two-day meeting.

The reserve kept the reference lending rate overnight in the targeted range of 2.25 to 2.50 percent, and the board unanimously adopted that resolution.
The Fed increased interest rates four times last year, and in December it did twice this year.

Federal Reserve Chairman Jerome Powell said earlier this month that the Fed will be patient about raising the rate and "market ahead of the data" (as compared to the fall in stock prices). The recent stock price drops in December.

However, he noted that the labor market data released earlier this year suggests that "US economy data continue to pick up in the new year".

(Reuters, The New Arab)

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